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My car was repossessed after 6 months of missed payments during a hospital stay. I still owe $20,000 on a 5-year loan with 4 years left — am I responsible for the full amount?

Taking on a car loan comes with a lot of responsibility. With Experian reporting that the 2024 average car payment for new and used cars sat at $734 and $525 per month, respectively, it's very easy ...
CBS News

Fifth Third Bank illegally seized people's cars after overcharging them, feds say

The Consumer Financial Protection Bureau (CFPB) slapped Fifth Third Bank with a $20 million fine on Tuesday for allegedly forcing auto loan customers to buy unnecessary car insurance policies, and in ...
USA Today

Car repossessed? Don't look for government help, like the mortgage or student-loan aid packages.

It was a Sunday night in August, just after midnight, when I was awakened by a loud banging. I opened the front door, ready to deliver a reminder about not forgetting the house key to my college ...
The Daily Dot

‘They’re just giving out cars to make a buck.’

“More carmax repos at the auction. People are defaulting on their loans and getting their vehicles repossessed,” TikToker Cheese (@thankucheese) writes in a caption for yet another video where he ...

Chasing a budget-friendly car? Bank-seized auctions may be worth a look

As new car prices climb and used-car demand stays high, many buyers are turning to a lesser-known but increasingly popular ...